H55 IS THRILLED TO ANNOUNCE DISCUSSIONS REGARDING THE GOVERNMENT OF QUEBEC's INVESTMENT IN H55

(MENAFN- PR Newswire) SION,
Switzerland, May 21, 2024 /PRNewswire/ -- H55, a pioneer in electric aviation technologies, is thrilled to announce the intention of the
Governement of Québec to
invest
in
equity
in
H55.
Led
by
Investissement
Québec, a key driver of economic development in Quebec,
this investment would mark a major milestone in H55's journey to bring certified electric propulsion solutions to North America, supporting the company's
production
ramp-up and
research
and
development
activities.
This
investment in H55 would be in line with Government's plans to establish a new innovation zone, Espace Aéro, focusing on the aerospace industry.

Headquartered
in
Switzerland,
H55
leads
the
way
in
electric
aviation,
specializing
in
certified electric propulsion, battery storage, and energy management solutions.
With a steadfast commitment to safety, performance, and sustainability, the company is enabling the aviation industry to achieve net zero emissions, offering cutting-edge technologies for a greener and more efficient future of air travel.

This
significant
development
follows
several recent
announcements,
driving growth
momentum for H55.
In late March, H55 announced European Union Aviation Safety Agency's (EASA) approval of its Compliance Check List for its electric motor, battery packs, and energy management systems, making it the first company to meet all requirements for the entire Electric Propulsion System (EPS).
Regulatory engagements with the FAA and
Transport Canada are underway to expedite North American Type Certification.

H55
Canada, located
in
the
Greater
Montreal region
in
Longueuil, will serve as the primary hub for H55's North American manufacturing operations. Equipped with a state-of-the-art facility, initial battery pack production is set to commence in late 2024. H55 Canada will continue
to
collaborate
on
product
development
and
engineering
customization
with
key
customers, including Pratt & Whitney Canada, CAE, and Harbour Air.

Investissement Québec's investment would represent a pivotal moment in H55's journey, providing financial support to scale up North American production, engineering, and research and development activities.
This strategic partnership would underscore Québec's dedication to fostering
innovation
in
aerospace,
reinforcing
its
position
as
a
hub
for
cutting-edge
technological advancements in sustainable aviation, and accelerating H55's ambitions in Canada and the USA.

Pierre Fitzgibbon, Minister of Economy, Innovation and Energy, Minister Responsible for Regional Economic Development and Minister Responsible for de Metropolis and the Montréal Region, stated :
"Today's announcement is an excellent demonstration of our commitment to developing Québec's
economy.
With
the
arrival of
a
key
player
like
H55,
our
ecosystem
will
be stronger than ever."

Expressing gratitude for the Government of Québec's steadfast support, André Borschberg, Co-Founder and Executive Chairman of H55, emphasizes, "Invest Québec's investment in H55 would accelerate our operational expansion in Québec." Emphasizing the Aerospace Innovation
Zone's
dynamic environment,
he
adds,
"This
zone
offers
unparalleled
opportunities, uniting companies and academic institutions aligned with our vision of revolutionizing aviation paradigms.
We are honored to be chosen by the Government to play a pivotal role in shaping Québec into a leading global hub for clean aviation."

In response to the investment intentions, H55's CEO, Martin Larose expressed enthusiasm, stating, "We would be delighted to welcome Invest Québec as a valued strategic partner.
This investment would mark a key moment in our journey, empowering us to expedite scaling up production, propelling our research and development endeavors, and bolstering our ongoing customer
initiatives
in
Canada
alongside PW&C,
CAE,
and
Harbour
Air.
Having
the
Government of Québec onboard provides all the right prerequisites in positioning H55 as a leader in sustainable aviation".

Furthermore,
H55
and
the
Government
of
Québec
will
partner
closely to
foster
innovation around battery technologies and sustainable energy solutions.
Leveraging its abundance of clean energy resources, Québec aims to promote clean energy storage solutions and
support the transition to a low-carbon energy system.
This investment represents a significant development
for
H55,
propelling
the
company
forward in
its
goal
of
revolutionizing
the
aviation industry
through sustainable
innovation.
With
the
Government
of
Québec's
funding, H55
would be poised to make even greater strides in advancing the future of flight.

For
more
information
about
H55
and
its
groundbreaking
electric
propulsion
technology,
please visit .

About H55

H55 is a Swiss-based company founded and led by the former Solar Impulse management team, André
Borschberg,
Sebastien
Demont and
Gregory
Blatt. H55's mission is to revolutionize the aviation industry by providing certified electric propulsion and battery management systems tailored to a diverse range of aircraft to achieve sustainable air travel. Through a commitment
of providing certified solutions and its pioneering legacy, the H55 team of visionary engineers and aerospace experts is at the forefront of driving the aviation industry toward a more environmentally
responsible
future,
setting new
standards,
and
pushing
the
boundaries
of
what is possible in electric aviation.

For
more
information [email protected] , T: +41 79 464 22 60

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SOURCE H55 SA

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